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Monday, April 11, 2011

Gores buys Pistons

SPARTAN BUYS PISTONS: Killing time while waiting to see how his bid for Warner Music has been received, Tom Gores has bought another once-proud but recently struggling operation. The Detroit Pistons announced Friday that the billionaire from Beverly Hills has agreed to buy the struggling NBA franchise, as well as The Palace of Auburn Hills, DTE Energy Music Theatre and the operating rights to the Meadow Brook Music Festival. The 46-year-old Gores, whose net worth is $2.4 billion, is a Flint native and has a degree from Michigan State. "I am very proud to have this opportunity to be part of such a tremendous organization," Gores said. " I have been impressed with the Davidson family and the way it has protected and built such a storied franchise. I grew up here, I am glad to be back and I am very excited about all the possibilities looking forward." (4/11a)

 
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